Portrush: Scanio-Shelton #10 is Placed on Production
11:09 EDT Wednesday, June 18, 2008
VANCOUVER (Business Wire) -- Portrush Petroleum Corporation (TSX VENTURE:PSH) (OTCBB:PRRPF) (http://www.portrushpetroleum.com) wishes to announce that the next well on the Mission River lease, the Scanio/Shelton # 10 has been placed on production at a daily rate of 560,000 cubic feet of gas and 20 barrels of oil/condensate at a flowing tubing pressure of 2,200 psi on a 8/64" choke.
Current production from the field is 1.6 million cubic feet of gas and 50 barrels of condensate a day.
Preparations are being finalized for the Mission River summer drilling program. Wells drilled to the Vicksburg will be drilled to approximately 8,700 feet. It is considered best to drill to the deeper formations because the potential new reserves to be captured at depth far exceed the potential reserves in the shallower formations.
The Mission River lease is being developed by McAlester and is located at the south end of the town of Refugio, Refugio County, Texas. The field has multiple pays at depths ranging from 2,000 to 8,800 feet. Portrush has a 10% working interest in the field. To date ten wells have been drilled to varying depths and all ten wells have been productive.
About Portrush Petroleum Corporation:
To find out more about Portrush Petroleum Corporation visit our website at www.portrushpetroleum.com
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
ON BEHALF OF THE BOARD
Mr. Martin Cotter, President & Director
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Portrush Petroleum Corporation
Martin Cotter, 866 939 2555
info@portrushpetroleum.com
